See 2D08-3553 Fla 2d DCA BAC v Ginelle Jean-Jacques This is the reason why I am offering the workshop on Expert Witnesses, i.e. -- to highlight the rules of evidence, to coach those who would present opinions as evidence and to hone the skills of the litigator. While apparently narrow in its scope and reasoning, this decision nails down the…[...]

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Tags: assignment, BAC, evidence, incomplete, lssumptions, original mortgage, original note, presumptions, show me the note, summary judgment, U.S. Bank, unauthenticated, unsigned
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Comment: Again, myth prevails. The monster that gobbled our home equity and the value of our pension funds came from the waters beneath the market not from some economic disaster or sudden migration of population to Australia. The "loss of value" was nothing of the sort. Prices were going up during a decade when median income was going down.…[...]

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Tags: Appraisal, David Streitfeld, demand, FHA, lenders, modification, Neil barofsky, New York Times, underwriting, Wall Street
Posted in bubble, Corruption, Eviction, securities fraud |

The big jump indicates that many foreclosures that were in process in 2009 are now beginning to move to repossession and, eventually, auction. With more than four million homes in that pipeline, the foreclosure crisis shows no sign of abating. "There is an emerging consensus among financial experts and policy makers that the key to successful modifications is to reduce…[...]

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Tags: Auction, Peter Goodman, principal reduction, RealtyTrac, repossession
Posted in bubble, Corruption, Eviction |

Still, your children need to learn how to budget. They should have something in place that gives them access to money while in college. And managing a financial account is an important life skill that they probably won’t learn in school or from anyone except you. Editorial Comment: We generally think of aging as a process, where eventually the kids…[...]

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See FLSC new RULES First, rule 1.110(b) is amended to require verification of mortgage foreclosure complaints involving residential real property. The primary purposes of this amendment are (1) to provide incentive for the plaintiff to appropriately investigate and verify its ownership of the note or right to enforce the note and ensure that the allegations in the complaint are accurate;…[...]

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Tags: Florida, judicial resources, lost note, ownership of note, right to enforce, task force, verification
Posted in bubble, Corruption, Eviction, securities fraud |

the bailout and insurance money was paid not to the investors or the borrowers, it was paid to the investment bankers who never were at risk. I'm beginning to think that the ultra-sophisticated investors have some dog in this race that prevents them from entering the foreclosure market directly to recover or settle their investments at a much higher rate…[...]

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Tags: collector, consumer debt protection act, creditor, debt validation letter, hearsay, investors, motion to strike, objection, personal knowledge, rules of evdience
Posted in bubble, Corruption, Eviction, securities fraud |

Submitted was a form reciting the legal description of the property and citing California Civil Code Title 5, Sections 880.340 and 800.350. As in other documents that can be prepared for homeowners it is only as good as the willingness of the county recorder's office to accept and record it. And it doesn't do much good if the property has…[...]

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Tags: CALIFORNIA, Notice of intent to preserve interest, qualified written request, Title 5
Posted in bubble, Corruption, Eviction, securities fraud |

Editorial Comment: Actually the number is far higher. We compute it as around 45% when all is said and done. First of all there is consensus that property values are actually around 15% less than seller's are asking. Second costs of selling the home makes up the rest, taking another 6-10% off the selling proceeds. The break point where people…[...]

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Tags: ASSOCIATIONS, auto loans, Bloomberg, borrowers, community banks, credit cards, credit unions, daniel Taub, investors, jingle mail, property values, securitized loans, strrategic defaults, student loans, TARP
Posted in bubble, Corruption, Eviction, securities fraud |

Monday, February 8th, 2010, 2:41 pm Million-dollar home sales continue to decline in California, as price declines are bringing homes below the $1m threshold and hesitant buyers have yet to return to the market, according to property data provider MDA DataQuick. A total of 18,621 California homes sold for $1m or more last year, down 23.8% from 24,436 sales in…[...]

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Posted in Uncategorized |

Editor's Note: business seems more concrete and logical than say, religion. But the truth is that all of finance and the economy is based upon three things: (1) trust, (2) credibility and (3) belief. Example: If you believed that the U.S. Dollar was going to be worthless (as has happened in our history) would you believe it is worth anything?…[...]

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Tags: belief, credibility, Pecora, trust, Wall Street Journal, Zweig
Posted in bubble, Corruption, Eviction, securities fraud |